Wall St rises as oil slide offers respite after Fed rate hike

The major US stock indexes jumped on Thursday as retreating oil prices improved market sentiment, with the Federal Reserve's first interest-rate hike under Chair Kevin Warsh underscoring the central bank's commitment to managing inflation.

The policy decision, which addressed a chronic source of unease, prompted investors to return to favored sectors. Technology shares rose, with Nvidia and Amazon adding more than 2% each.

The gains will be crucial in the second half of September, historically a weak month for equities, with the benchmark S&P 500 losing 1.7% so far this month.

"For equities, the message is clear. The start of a hiking cycle can bring volatility, but volatility does not have to end a bull market," said Brett Mitstifer, chief investment officer of private banking and wealth management at Flagstar Bank.

"If this cycle remains measured, disciplined investors should view market dislocations as opportunities to upgrade quality, not reasons to abandon risk altogether."